HeavyMetal wrote: ↑Wed Aug 31, 2022 5:25 pm
One note - I do not pay pension for many years and no one asks me to
That's why my question about "instead"
Yes there's a possibility that once I try to enroll with private pension they will do some check up - tell me I have to enroll to national pension first. But I doubt it, somehow - they just need my money after all.
Also my friend manages to pay private pension instead of national (she's Japanese). Don't know how and actually don't care. But that doesn't seem impossible at all.
This is true. Enforcement of the pension law has been weak and inconsistent in the past. They are starting to crack down. You may or may not have action taken against you, but even if you do, you will only be asked to backpay 2 years' worth.
In fact, you will only be
allowed to backpay two years' worth.
This is because the national pension is actually a good deal. By not enrolling, you are only hurting yourself. It is such a good deal that buying an equivalent product (if you can find a company that will sell you one!) would cost far more than nenkin does.
Go out and try to find an insurance company that will sell you an annuity starting at 65 and running for the rest of your life. I guarantee they will refuse, or charge you multiple times what you would have paid for nenkin (which also includes disability insurance, and survivor pensions if you have dependents).
I probably have enough money that I won't really need my nenkin, but if I could I would put
more money into it. That's how good a deal it is.
Yes, it may be changed in the future, but every time I meet someone who isn't paying into nenkin because 'it's a scam/pyramid scheme/will run out of money' they don't understand it and
don't have an alternative plan!
Okay, so you're not paying nenkin. Well done. How are you going to pay your living expenses for 30-40 years in retirement?
